GSK agrees to pay $105m fine

Michael Bow is a reporter at City A.M. covering private equity, funds, investments and asset managers. He can be reached on michael.bow@cityam.com

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GLAXOSMITHKLINE (GSK) will pay $105m (£62.7m) to settle claims brought by 44 US states over its alleged violations of state trade practices.

The payment comes two years after GSK paid a $3bn US Federal fine for marketing some of its drugs without the correct approval from regulators. The company was facing ongoing litigation in the US over the issue at a state level.

GSK, the UK’s biggest drug maker, is currently embroiled in a Serious Fraud Office investigation into its commercial practices across several jurisdictions.